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Dow futures trade higher, Micron lifts 2.7% after earnings
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Published Jun 29, 2023 09:30
© Reuters.
Investing.com - U.S. stock futures were trading higher during Wednesday's overnight deals after major benchmark indices closed out a mixed session as Fed Chair Powell flagged the potential for further interest rate rises.
By 19:20 ET (23:20 GMT), Dow Jones futures and S&P 500 futures added 0.2% apiece while Nasdaq 100 futures gained 0.3%.
In extended deals, Micron Technology (NASDAQ:MU) added 2.7% after reporting Q3 EPS losses of $1.43 versus $1.59 expected, while revenue came in at $3.75 billion versus $3.67B.
Meanwhile, major banks including Wells Fargo & Company (NYSE:WFC), Bank of America Corporation (NYSE:BAC), and JPMorgan Chase & Co. (NYSE:JPM) lifted between 1 and 2% after passing the Fed's stress test results.
Ahead in Thursday's session, data releases including Q1 GDP, pending home sales, and jobless claims will be closely monitored, as well as further speeches from Powell and Bostic.
Among earnings, companies scheduled to report quarterly results include Nike Inc (NYSE:NKE), Paychex Inc (NASDAQ:PAYX), and Simply Good Foods Co (NASDAQ:SMPL).
Stay up to date with the latest earnings results with InvestingPro.
During Wednesday's regular trade, the Dow Jones Industrial Average fell 74.1 points or 0.2% to 33,852.7, the S&P 500 eased 1.6 points or 0.04% to finish at 4,376.9, and the Nasdaq Composite added 36.1 points or 0.3% to 13,591.8.
Major tech stocks finished mixed with Meta Platforms Inc (NASDAQ:META) down 0.6%, Microsoft Corporation (NASDAQ:MSFT) adding 0.4%, Alphabet (NASDAQ:GOOGL) up 1.6%, and Nvidia Corporation (NASDAQ:NVDA) dipping 1.8%.
On the bond markets, United States 10-Year rates were at 3.714%.
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